A common thought process defines owning a private jet as a sign of financial success. Once you start earning more money, you may want to invest it into a property, but you also find yourself questioning whether it is the right decision. While owning a private jet or renting one has its own pros and cons, this article is here to help you make a decision.
Realistically, your finances will define whether you own or rent a private jet. Of course, you can look at a jet loan, but you need to be able to pay it off. Your short-term and long-term financial position is greatly affected by your living situation. It is vital to look at all the pointers before making a decision about whether you want to buy or rent a private jet.
According to experts, the smart thing to do is to take note of the state of the economy and the market. Along with your financial position, these things will give you an idea of whether it is a good decision to buy a private jet or rent it.
An important macroeconomic factor to keep in mind is the dynamics of the private aviation market. Based on the location you want to live in, the demand and supply of private aviation will differ, impacting the cost of buying or renting a property.
For example, the private aviation market in Dallas and Chicaco have a 30-month-long inventory overhang. This is quite less compared to the private aviation market in New York, with a 65-month-long inventory overhand. You can look at Real Insight Residential reports for some insight into the growth in the prices of properties.
The interest rate cycle is another macroeconomic factor to keep in mind since it sets the rate for jet loans. How you afford to buy or rent a property will depend on the interest rate cycle. For instance, if the interest rate is rising, jet loan rates would go up, making it more advisable to rent and vice versa.
Other Factors To Keep In Mind
Here are some other factors that will help you make a decision about whether you should purchase or rent private air charter service.
- Jet loan rates. Your credit score is just as important as the interest rate cycle. Banks need to be able to trust you to give you a loan at a low cost.
- You need to be financially secure enough for monthly loan repayments to not drain your disposable income.
- Your job and personality play a big role in deciding whether you should buy or rent a property. In case you will not be living in the same area for too long, it is preferable and more economic to rent.
- In an inflationary economy, it is preferable to buy a private jet, as renting can turn out to be quite expensive.
- Buying a property can act as a form of forced saving. If this is the case for you, then you can look at other forms of investment that do not come with expensive EMI payments. It also depends on your risk-taking ability, and whether you believe that the value of your private jet is sure to appreciate in the future.
Martha’s Vineyard Beaches
Martha’s Vineyard is becoming the most popular tourist destination for a beach day or a dreamy destination wedding, which makes it perfect for travel via private aviation. Martha’s Vineyard has an ample number of private airports making it perfect for families to choose as a destination via private aviation. With all sorts of waves, waters, and shores, this island has a beach for every fantasy. Here are some of the top Martha’s Vineyard beaches to consider for your next voyage.
1. South Beach: This destination is a dream come true for surfers and those chasing a thrill. The waves are perfect for riding on without danger and for adventures.
2. Inkwell Beach: This shore is perfect for long walks with sand between your toes and the tropical Sun shining warmly on your skin.
3. Lambert’s Cove Beach: If collecting rocks and shells is your favorite part of a beach day, this shore is where you want to be.
4. Joseph Sylvia State Beach: If fishing is your hobby, this sea’s rocky shore is perfect for catching your next meal!
5. Lucy Vincent Beach: This shore might be your next destination for those looking for a resort with access to a private beach.
6. Katama Beach: Another thrilling spot, this shore combines private access via a resort and thrilling waves.
7. Menemsha Public Beach: This shore is a pocket-friendly option, for those looking for a fun day at the beach without draining the bank.
8. Menemsha Hills: If you prefer mountains over beaches, but still want to experience the warmth of the tropical Sun, this destination is for you.
9. Oak Bluff’s Town Beach: This shore is perfect for those who go on vacation just to relax. You can bathe in the sun and enjoy a tropical drink for hours at this beach.
10. Lightprivate jet Beach: This shore provides a different kind of adventure by providing access to a vintage, yet functioning lightprivate jet and animals to keep you company.
Martha’s Vinyard beaches tend to be for the keenest travelers, looking to experience different cultures through food and festivals at their finest. Martha’s Vineyard welcomes tourists all year round, so make use of your saved days off and take the most mind-blowing trip of your life.
The Bottom Line
Buying a private jet can be one of your life goals and in that case, when the time is right, we suggest you take that step. However, there are many pros to renting a private jet as well. We hope this article helped you make a decision and you can reach out to professional financial advisers to help you take a more concrete decision if needed. We hope you can visit many places like Martha’s Vineyard via air charter services!